STATUS QUO ON OPR WILL BOOST EXPORTS, SAYS MUSTAPA

KUALA LUMPUR, Sept 3 (Bernama) –- The status quo on the overnight policy rate
(OPR) is expected to help boost the country’s exports as the cost of funding
will be maintained at the current level, said Minister of International Trade
and Industry Mustapa Mohamed.

“Exports have been doing well. This (OPR at current level) will result in
continued export growth in 2010,” he said when asked on the central bank’s
decision Thursday to maintain the OPR at 2.75 per cent.

Mustapa was speaking to reporters after a dialogue session with associations
that represent rubber manufacturing and related industries Thursday.

The minister said the move to retain the OPR at the current level was in
anticipation of the country’s economic growth "cooling off" in the second half
of this year after registering a staggering 9.5 per cent in the first half of
2010.
-- BERNAMA




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